Indore (Madhya Pradesh): The Enforcement Directorate (ED) filed a Prosecution Complaint (PC) on Monday in the infamous Rs 404 cr dabba trading and online betting syndicate case. Young leader of Congress party Golu Agnihotri has been named as the key mastermind of the scam.
The PC was filed before the Special Court (PMLA) of the city against a syndicate engaged in extensive illegal dabba trading and online betting activities operating across Indore, Mumbai, Ahmedabad, Chennai and Dubai.
ED had initiated the investigation on the basis of FIR registered by the city police for offences under various Sections 319(2) and 318(4) of the Bhartiya Nyaya Sanhita, 2023 corresponding to Sections 419 and 420 of the IPC, 1860.
Investigation revealed that an FIR relating to an illegal online betting racket involving persons associated and connected with earlier FIR, was registered at NM Joshi Marg Police Station of Mumbai, under IPC sections 419, 420, 465, 468, 471, the Maharashtra Gambling Prohibition Act, and Sections 66(C) and 66(D) of the IT Act, and that the police authorities have filed a chargesheet in the said FIR.
The ED investigation revealed the existence of a technologically manipulated ecosystem involving rigged trading platforms, unlawful betting websites and a cross-border laundering mechanism.
Vishal Agnihotri who is commonly known as Golu Agnihotri has been identified as the principal operator, assisted by Tarun Shrivastava who handled the day-to-day financial operations and mule accounts and Srinivasan Ramasamy who configured manipulated MT5 servers designed to generate false trading outcomes.
Further, in a parallel betting network Dhaval Devraj Jain operated the underground platform LotusBook247, while Dharmesh Rajnikant Trivedi managed the offshore entity iBull Capital and Nidhi Chandnani facilitated the movement and layering of funds through Dubai based structures.
The probe confirmed that clients were shown simulated trades on platforms such as V Money and 8Stock Height without any linkage to recognised stock exchanges, while betting platforms like LotusBook247 and 11Starss operated clandestinely using anonymous accounts, encrypted communication and cash-based settlements.
The investigation led to provisional attachment of assets worth Rs 34.26 crore comprising immovable properties worth Rs 28.60 crore, movable assets valued at Rs 3.83 crore and balances of Rs 1.83 crore in bank or demat accounts.
